Penrith industrial estates BID
Proposed Penrith industrial estates Business Improvement District (BID)
We have received a proposal to establish a BID covering Penrith Industrial Estate, Gilwilly Industrial Estate and Eden Business Park for a 5 year term. The establishment of a BID will be subject to a ballot taking place in April 2018. If the ballot is successful then businesses in the BID area will be subject to a 2% levy on their business rates in order to provide a pot of money to spend on schemes set out in the Penrith Industrial Estates BID Business Plan.
The BID proposer is Chris Staniowsky of Manning Elliott Architects. Chris can be contacted on 01768 868800.
BID ballot and results
A ballot will take place on 26 April 2018 on the proposal to introduce a BID. All businesses in the proposed BID area will receive a notice of BID and a ballot paper in order to vote in the ballot, which will be undertaken as a postal ballot administered by Electoral Reform Services.
For the BID to be established two threshold tests had to be met in the ballot:
- More than 50% of votes cast (turnout) must be in favour of the BID; and
- The positive vote must represent more than 50% of the Rateable Value (RV) of the votes cast.
Support for the Penrith BID
Our members will decide how to vote in respect of Council-owned properties where the Council is currently responsible for paying business rates within the proposed BID area in a full council meeting on Thursday 8 March. The recommendation to members is to vote yes in the ballot.